PREPARATION OF BUDGET ESTIMATES
The budget is based on the departmental estimates submitted by the
heads of departments and other estimating officers and these departmental
estimates are themselves based on the estimates submitted by the District
Officers of the departments.
Heads of Departments should prepare their estimates in duplicate
in the proforma prescribed by the Finance Dept. and send one copy to
Administrative Dept. and copy marked to the Finance Dept. not later than 1st
October of every year.
The administrative Department should send the estimates with their comments to Finance Department by 15th of October.
REVISED BUDGET ESTIMATES
There are 3 methods for
preparation of Revised Estimates.
i. By
adding to the actual for the first four months of the current year those of the
1st eight months of the previous year.
ii. By
working out a figure which is three times the actual of the first months of the
current year.
iii. By
assuming that the revised estimates for the current year will bear the same
proportion to the actual of the first four months as the actual of the previous
year bore to those of the first four month of that year.
Note: Out of the above considered tobe most viable for each particular
case could be adopted.
The revised estimates do
not authorize any expenditure.
The revised estimates are
prima facie the best guide to the coming year estimates.
It should enable the
Government to arrive at the appropriate closing balance for the current year, which will become the Opening Balance for
the next year.
It is therefore essential
that revised estimates are prepared with great care and should be as close as possible to the actual.
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